Woman CEO sought for Summers job

Larry Summers isn’t leaving the White House until the end of the year but President Barack Obama’s team already knows the ideal candidate to replace him on the National Economic Council – a woman CEO.

The pick doesn’t have to fit that bill precisely, but it’s highly likely Obama’s pick will be either a woman or a business leader – and preferably both, said several people familiar with the situation.

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Administration officials emphasized there’s no litmus test for the job and they will hire the most qualified person they can find. There’s also no rush – “Nothing’s going to be decided for months,” said one White House aide.

But they are also acutely aware that all of the administration’s big four economic leadership positions – NEC chief, director of the Office of Management and Budget, Treasury secretary and head of the Council of Economic Advisers – are currently filled by white males with virtually no experience running a major business enterprise.

Potential Summers replacements reportedly being initially considered include Rebecca Blank, a Commerce Department official who oversees the Census Bureau and Bureau of Economic Analysis; Ursula Burns, chairwoman and CEO of the Xerox Corp.; Ann Mulcahy, the company’s former CEO; and veteran economist Laura Tyson, who held the NEC director’s post in the Clinton administration.

Obama is also expected to give a close look to business executives, as well as women candidates currently serving on his Economic Recovery Advisory Board and the President’s Export Council. The president is also known to think highly of Vice President Joe Biden's chief economist Jared Bernstein

The irony that Summers – who once suggested that differences in male and female aptitude may account for the shortage of women in the upper ranks of academia – might be replaced by a woman was lost on no one.

“In this economy — when you think about women making the bulk of consumer decisions and now they are for the first time roughly half the workforce — it does make sense to have a woman’s perspective,” said Lisa Maatz, director of public policy and government relations for the American Association of University Women.

Amy Siskind, the first female managing director of the investment firm Wasserstein Perella, suggested Obama consider her former colleague, Zoe Cruz, the former co-director of Morgan Stanley.

“[Obama] does not seem to understand the need for diversity and gender balance,” said Siskind, who founded The New Agenda, a group focused on the appointment of women to positions of power in business, government and the media.

“We see time and time again in corporate America that companies that have a gender balance perform better.”

Potential Summers replacements reportedly being initially considered include Rebecca Blank, a Commerce Department official who oversees the Census Bureau and Bureau of Economic Analysis; Ursula Burns, chairwoman and CEO of the Xerox Corp.; Ann Mulcahy, the company’s former CEO; and veteran economist Laura Tyson, who held the NEC director’s post in the Clinton administration.

I will do a little digging, but any replacement must be from Harvard as per Obama's goal to have the most elite do-nothing people in-charge of telling people what to do.

The irony that Summers – who once suggested that differences in male and female aptitude may account for the shortage of women in the upper ranks of academia – might be replaced by a woman was lost on no one

Another one of Summer's several failures. He just keeps adding to the list.......

Hmmmm.... wonder if Oprah is up to the job? If not, then there is always Sheila Jackson Lee or maybe even another black CEO type, like Lewis Frarakan or maybe the famous Rev. Jeremiah Wright. Any or all of them would fit right into the most INCOMPETENT, CORRUPT administration this side of Hugo Chavez's in Venezuela. If John Jefferson hasn't gone to prison yet for that money in his freezer, maybe Obumbles could pardon him and put him into the job..... But wait!! Even better would be poor old corrupt Charlie Rangle, as in wrangle your way out of paying taxes. He'd be PERFECT!! Notice I didn't even mention that black crook doofus representative from CA --couldn't remember her name....

Why does everything in this administration have to be seen through the prism of identity politics?

Brilliantly stated BLKCONSERV8TIVE.

Obama is getting worse by the second. Announcing that the pick could be based on gender dooms this pick. No matter what she does it will be tainted by the fact that she was a quota pick. They are so pathetic...

Between Reid playing with gays over the military issue and hispanics with his faux attempt to pass the DREAM Act, and now Obambi gambling with our economy with a gender pick, democrats are making themselves out to be the biggest political idiots of our generation.

I will do a little digging, but any replacement must be from Harvard as per Obama's goal to have the most elite do-nothing people in-charge of telling people what to do

Yes. And I notice that there are already too many govt employees in the list. Wattya wanna bet that he'll end up with one of them = they STILL won't have a clue about the business community. It will be a miracle if they get someone with REAL private sector experience.

There are several very talented women who have led large, medium and small businesses. Given the need to write regulations and execute tax reform, someone with a heavy accounting background, would be preferable. She would have to have the right chemistry with Chair Goolsbee, and be committed to monitoring legislation and regulation writing, to ensure that no job killing provisions make it through. Another technocrat or someone plopped out of Academia will give us more of the same: A continued nightmare on elm street.

There are several very talented women who have led large, medium and small businesses. Given the need to write regulations and execute tax reform, someone with a heavy accounting background, would be preferable. She would have to have the right chemistry with Chair Goolsbee, and be committed to monitoring legislation and regulation writing, to ensure that no job killing provisions make it through. Another technocrat or someone plopped out of Academia will give us more of the same: A continued nightmare on elm street.

I think the trouble might be that most female CEOs are far too smart to board a sinking ship. I hate to say it, but anyone who would take the job, especially someone at the pinnacle of their career, at this junction might be suspect.

America is in trouble. It is time to act. Are we getting the real facts from the media? Have we the people been duped? I once heard a TV newscaster proudly boast, "The news is what we make it." The question is ... Have we been politically blinded? See if you have! This is an eye-opener. Google this... K Carl Smith... (include spaces), the link is http://vimeo.com/8940481, and watch this video IF YOU DARE. Please cut and paste this on your email list, to all you know, and copy and paste it at all opportunities on news item comments sections. America needs to know the truth -- we are the subjects of the government slave master. This is an important message for all Americans. It could be the most important for these times.

Another woman???? For God's sake, they just had to get rid of the community organizer's first woman pick, Romer! How about appointing MOOCHelle???

Obama has tripled the debt in 20 months and he isn't even half way thru his term! He can't be trusted to appoint a dog-catcher! The fact that he's running his skinny legs off every day...popping up in back-yards and townhalls...lying about the real state of the economy...is enough to throw him out of office based on his incompetence and willful mis-representation (LIES) of this dire crisis. He refuses to admit his mistakes or change course....he must be terminated ASAP!!!

US Government 'hiding true amount of debt'

By Gregory Bresiger From: NewsCore September 20, 2010 9:09AM

THE actual figure of the US' national debt is much higher than the official sum of $US13.4 trillion ($14.3 trillion) given by the Congressional Budget Office, according to analysts cited on Sunday by the New York Post.

"The Government is lying about the amount of debt. It is engaging in Enron accounting," said Laurence Kotlikoff, an economist at Boston University and co-author of The Coming Generational Storm: What You Need to Know about America's Economic Future.

"The problem is we're seeing an explosion in spending," added Andrew Moylan, director of government affairs for the National Taxpayers Union.

In 1980, the debt - the accumulated red ink incurred by the Federal Government - was $US909 billion.

This represented some 33 per cent of gross domestic product, according to the Congressional Budget Office (CBO).

Thirty years later, based on this year's second-quarter numbers, the CBO said the debt was $US13.4 trillion, or 92 per cent of GDP.

The CBO estimates the debt will be at $US16.5 trillion in two years, or 100.6 per cent of GDP.

But these numbers are incomplete.

They do not count off-budget obligations such as required spending for Social Security and Medicare, whose programs represent a balloon payment for the Government as more Americans retire and collect benefits.

In the case of Social Security, beginning in 2016, the US Government will be paying out more than it is collecting in taxes.

Without basic measures - such as payment cuts or higher payroll taxes - the system could be on the road to bankruptcy, according to officials.

"Without changes," wrote Social Security Commissioner Michael Astrue, "by 2037 the Social Security Trust Fund will be exhausted. There will be enough money only to pay about $US0.76 for each dollar of benefits."

Mr Kotlikoff and Mr Moylan agree US national debt is much more than the official $US13.4 trillion number, but they disagree over how to add up the exact number.

Mr Kotlikoff says the debt is actually $US200 trillion.

Mr Moylan says the number is likely about $US60 trillion. That is close to the figure quoted by David Walker, the US Comptroller General from 1998 to 2008.

He launched a campaign to convince Americans that the federal spending and debt is a greater threat than terrorism.

But whichever figure is accurate, all three agree that the problem has worsened in the last few years.

They say it is because Congress and the Administration, whether Republican or Democrat, consistently overspend.

They'd be better off just hiring the most competent person available regardless of race and/or gender.

WE would be better off if the most competent person were hired. The problem is, the best person for the job would be in total opposition to Obama's stupid beliefs about economics. Obama is a hard-core marxist, and someone who could actually give credible advice to fix the economy is light years away from marxism, and therefore, Obama.

First, it is demeaning to identify any professional on the basis of his/her race or gender identity rather than his/her capabilities. But I guess that hasn't occurred to the geniuses in the White House and Politico and academia.

Second, this appointment isn't about some touchy-feely "more diverse than thou" symbolism. Given the lousy state of the economy - and the irresponsible, class-warfare driven, counterproductive, moronic policies that have gotten us here - the country needs someone who knows something about how things actually work in the real world. Things such as how capital formation works, what does/doesn't induce employers to hire, etc.

But this is the Obama Administration we're talking about. Maybe he can find an under-represented person. Hey - what about a disabled, transgendered person of color???